Carbon Fee Needed

On April 22, Gov. Dannel P. Malloy recognized Earth Day by announcing his recommitment to mitigating climate change [April 23, Business, "Malloy 'Recommits' To 2050 Goals"]. The goals set by the state are admirable and further position Connecticut as a leader in the region and country in combating the effects of carbon gas emissions.

While this action is needed at the local level, climate change is an issue that requires a national response. One approach is for Congress to enact a fee on carbon-based fuels at the source. This fee per ton of carbon gas emitted could increase each year so that clean energy is cheaper than fossil fuels within a decade. All of the money collected could be reimbursed to American households equitably.

A recent econometric study by Regional Economic Models Inc. (REMI) found that a progressive carbon fee and dividend would produce a decline in carbon emissions of 33 percent after only 10 years, and an increase of 2.1 million jobs after 10 years.

The governor and the state should be applauded for continued leadership on climate change. Our Congress should also consider the support of a carbon fee program to help the transformation to a greener economy.